Monitor for Phase I data readouts and potential expansion cohorts, which could serve as catalysts for ANL. The collaboration validates the combination approach but provides no near-term revenue.
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Executive Summary
Adlai Nortye announced clinical trial collaboration and supply agreements with Eli Lilly and Merck KGaA for cetuximab, to be used in combination with its investigational ADC AN4035 in a Phase I trial for CEACAM5-enriched RAS-addicted solid tumors. The agreements provide cetuximab at no cost, supporting the ongoing global trial without disclosed financial terms.
Key Facts
- Clinical trial collaboration and supply agreements signed with Eli Lilly and Merck KGaA for cetuximab (ERBITUX) at no cost for U.S., Australia, and China trial sites.
- AN4035 is a first-in-class pan-RAS(ON) inhibitor-based ADC targeting CEACAM5, currently in a global Phase I trial as monotherapy and in combination with cetuximab.
- No financial terms, milestone payments, or revenue guidance were disclosed.
Financial Impact
No financial terms disclosed; cetuximab supplied at no cost reduces trial expenses but no quantifiable revenue or cost impact stated.
Risk Factors
- Phase I trial may fail to demonstrate safety or efficacy, leading to program discontinuation.
- No disclosed financial terms limit immediate revenue impact; reliance on future clinical data.
- Clinical-stage biotech with no approved products; high cash burn risk.
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3381473 |
Filters
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Oct 15, 2026 11d ago | 6-K | $12.09 $10.58 | ▼ −12.49% | ▼ −11.48% | $10.58 (−12.49%) |
Oct 15, 2026 11d ago | Press Release | $12.09 $10.58 | ▼ −12.49% | ▼ −11.48% | $10.58 (−12.49%) |
Sep 30, 2026 26d ago | 6-K | $16.00 $14.05 | ▼ −12.19% | ▼ −14.10% | $10.58 (−33.88%) |
Sep 30, 2026 26d ago | 6-K | $16.00 $14.05 | ▼ −12.19% | ▼ −14.10% | $10.58 (−33.88%) |
Sep 16, 2026 5w ago | EFFECT | $15.52 $15.75 | ▲ +1.48% | ▼ −0.34% | $10.58 (−31.83%) |
Aug 26, 2026 8w ago | 6-K | $15.06 $13.86 | ▼ −8.00% | ▼ −7.88% | $10.58 (−29.75%) |
Aug 19, 2026 9w ago | 6-K | $14.33 $15.06 | ▲ +5.09% | ▲ +5.48% | $10.58 (−26.17%) |
Aug 14, 2026 10w ago | 6-K | $13.25 $13.70 | ▲ +3.40% | ▲ +4.76% | $10.58 (−20.15%) |
Aug 14, 2026 10w ago | Press Release | $13.25 $13.70 | ▲ +3.40% | ▲ +4.76% | $10.58 (−20.15%) |
Aug 3, 2026 12w ago | 6-K | $12.99 $13.23 | ▲ +1.85% | ▼ −0.18% | $10.58 (−18.55%) |
US Market Status
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